Element Fleet Management Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	1,642	1,534	1,344	1,076	968.77
Other Revenue	678.36	671.47	567.25	372.46	344.94
Revenue	2,320	2,205	1,912	1,448	1,314
Revenue Growth (YoY)	5.22%	15.34%	32.02%	10.23%	-5.45%
Cost of Revenue	348.2	338.73	304.79	274.06	278.49
Gross Profit	1,972	1,866	1,607	1,174	1,035
Selling, General & Admin	143.19	128.9	110.77	92.25	82.5
Amortization of Goodwill & Intangibles	31.28	28.73	27.91	26.95	27.9
Operating Expenses	853.12	783.93	710.03	561.05	525.19
Operating Income	1,119	1,082	896.92	612.94	510.03
Interest Expense	-523.7	-554.84	-433.81	-204.42	-155.24
EBT Excluding Unusual Items	595.08	527.54	463.11	408.52	354.79
Merger & Restructuring Charges	-69.54	-13.4	-13.67	-	-
Gain (Loss) on Sale of Investments	3.78	-0.59	-0.49	-2.48	6.87
Pretax Income	529.32	513.56	448.95	406.05	361.66
Income Tax Expense	250.19	126.42	103.35	103.38	80.34
Earnings From Continuing Operations	279.13	387.14	345.6	302.67	281.32
Net Income	279.13	387.14	345.6	302.67	281.32
Preferred Dividends & Other Adjustments	-	7.22	17.63	20.74	25.61
Net Income to Common	279.13	379.92	327.97	281.93	255.71
Net Income Growth	-27.90%	12.02%	14.18%	7.59%	24.86%
Shares Outstanding (Basic)	402	397	390	397	423
Shares Outstanding (Diluted)	402	404	405	413	439
Shares Change (YoY)	-0.61%	-0.27%	-1.96%	-5.95%	-3.15%
EPS (Basic)	0.70	0.96	0.84	0.71	0.60
EPS (Diluted)	0.69	0.95	0.82	0.69	0.59
EPS Growth	-27.06%	15.18%	18.42%	16.86%	35.47%
Free Cash Flow	-168.03	-120.82	-987.58	166.81	1,980
Free Cash Flow Per Share	-0.42	-0.30	-2.44	0.40	4.51
Dividend Per Share	0.379	0.341	0.318	0.246	0.216
Dividend Growth	11.36%	7.08%	29.45%	13.88%	36.76%
Gross Margin	84.99%	84.64%	84.06%	81.07%	78.80%
Operating Margin	48.22%	49.09%	46.92%	42.33%	38.82%
Profit Margin	12.03%	17.23%	17.16%	19.47%	19.46%
Free Cash Flow Margin	-7.24%	-5.48%	-51.66%	11.52%	150.74%
EBITDA	1,727	1,639	1,412	642.83	544.35
EBITDA Margin	74.44%	74.31%	73.83%	44.39%	41.44%
D&A For EBITDA	608.24	556.12	514.6	29.88	34.32
EBIT	1,119	1,082	896.92	612.94	510.03
EBIT Margin	48.22%	49.09%	46.92%	42.33%	38.82%
Effective Tax Rate	47.27%	24.62%	23.02%	25.46%	22.21%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.